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alreadyinuse - thanks for your enlightening and erudite comments! Somehow I think the BOD know a little more than you do about this project. I'm looking forward to the gradual positive news flow and I will continue to benefit from my investment here.
Such an exciting time for the Company. Colin and the BOD will at last take their plans to fruition. As expected, everything coming together despite the obstacles they have had to negotiate along the way. More good news flow on the way without doubt. It will be good to see Slovenia benefit from their own gas reserves and improve their energy security.
https://www.ascentresources.co.uk/wp-content/uploads/2019/03/2019-02-27-AST-Shareholder-Meeting.pdf
Just in case anyone didn't see the corporate presentation from 27th February 2019. Worth a reminder as to what Ascent have in the pipeline.
Monarch - I fully understand your frustration but don't forget there are 2 new board members and the Slovenian authorities have been through a period of dramatic change. This has always been a waiting game due to the issues that were out of the BOD's control. Things may have moved a lot slower that most of us anticipated at the outset but that is often the way with natural resources companies and I for one have faith in the BOD. I have seen this sort of thing happening with other investments and when there is gas in ground it eventually comes good. Hopefully we are on the cusp of reinvigorating this share. I've invested in a few companies that didn't have anywhere near as much resource in the ground as AST does and I'm pretty convinced my investment will do extremely well.
No advice being offered just my views based on my own opinion, research and past experience of course.
Monarch - indeed I do know the difference between a paper profit and a real profit. Of course same applies to paper losses so good to be reminded. I bank my godson's profits when I get a 50% increase and then reinvest elsewhere. Difference strategy for my own investments. Just a bit of fun investing short term for godson. I have a much longer timeline in mind for my own investments.
New2LSE2018 - clearly you got your investment timing way off. You shouldn't invest what you can't afford. Investing in a foreign country and particularly in natural resources is inherently risky. You should have put your money into premium bonds if you are a long time investor and needed a quick return. You should have carried out a risk assessment before investing, particularly when you are clearly out of your depth. I, on the other hand, assessed the risk and made my decisions based on what I knew about the sector, the country as well as the BOD. I am more quite happy waiting for the return on my investment. The only thing 'wrong' with me is that I take risks but I am pleased to say they have paid off 90% of the time. 'Battle scars' - gosh you are a bit of a drama queen but you do make me laugh out loud!
New2LSE2018 - When Ascent get the permits applied for it will be entirely down to the continual effort of the BOD to achieve this. Much as you like to slate the CEO and indulge in extreme abuse, he and the BOD are doing their utmost to follow the Slovenian procedures to achieve financial success for the project. Not long now until you can move on to your next project and find another target for your systematic attempts to destroy a company simply because you don't agree with the extraction of natural resources anywhere. Greens should be eaten, not heard.
Monarch, equally we have heard your constant whining on here as well. What do you hope to achieve? I, like many, can see the potential here and if you want to be so naive as to think you are entitled to have a daily insight to the workings of Ascent, then you really are out of your depth. You are not a board member of Ascent, you are invested in some shares, and as such the information you get about the Company is what is produced on an RNS. Anything else you should research yourself and make an informed decision. If you get that wrong, then it is your own fault. Although you may find it cathartic to go over the same ground again and again, it is getting a bit annoying.
Zibi3105 - Why no mention of Mr Lous Castro, non-executive director with significant oil and gas experience, investment and broking background? Why no mention of Joh Buggenhagen, director, with 20 years experience as a geophysicist and natural resources exploration? Mentioning the strong BOD would not suit your agenda. You'd rather go on and on repeating the same old mantra about the past. Perhaps you just haven't kept up to date. Your English is passable on some occasions but on others it is incomprehensible..
Zibi3105 - ever worked on a gas field? It is not unusual to encounter problems like a tool becoming stuck - it is part and parcel of the difficulties of the job. It may provide you with soundbites for your play on words but again just exposes the complete lack of understanding of your investment. I guess you thought a few men dug a hole, stuck in a pipe and hey ho we're in the money! Unbelievable lack of understanding of what you invested in. Clueless as far as I can see.
Stockdale you can compare all you like but you are not being realistic. I am shocked by the naivety of people who think like this and make investment choices based on such nonsense. I would suggest that if anyone thinks like this they should track down their local plumber in the pub (as you seem to find comparable) and see if he needs help to buy a van. What would your 'shareholder expectations' be in this scenario? I am pretty certain if you helped out the plumber (again using your analogy), you wouldn't be insisting he didn't know his ballcock from his elbow joint.
Monarch, Slovenian political situation has been the cause of all delays. You can't just blow with the wind in your opinion. The BOD were very clear on their expectations and Slovenian government has acted in a way that no-one could have predicted. This is not the fault of the BOD and it is naive to think that anyone could have legitimately changed the situation. As for the term 'shareholder expectations', that really is a soundbite that means nothing in the real world. Everyone had different expectations of AST and the majority of people having a good moan on here expected their short term gamble to pay off and now need someone to blame. I am happy with the BOD and, yes, my substantial investment is down but I never expected to make a quick killing - I was investing in AIM and was fully aware of the risk/reward. The BOD are not responsible for the multitude of 'shareholder expectations'. I could have expected to become a millionaire by investing here. If I don't, whose fault is that? It is mine, not the BODs.
The CEO's remuneration is agreed by the BOD. This has always been the case and is transparent in all the financial reports from the Company. Anyone having a moan about his salary just proves the point that they invested without even basic research. In many organisations, share awards and bonuses are often tied to achievement but not salary. I wonder how many employees or directors in any organisation would agree to a contract of employment that dictates their salary would fluctuate depending on the performance of the company! "Sorry employee, cash a bit tight this month, so we're going to reduce your salary by 50%" Get Real! I think you would find that such an agreement would break basic employment contract law. I guess those on here debating the CEO's remuneration would happily employ young people on zero hour contracts - same principle. If your gamble for a quick buck didn't work out, I suggest you just suck it up as there are plenty of us who can see the potential for Ascent and support the BOD despite the shenanigans in Slovenia.
The response to the Primary Bid Offer raised funds that will be used to continue to develop the project and progress due diligence on other opportunities outside of Slovenia. Those who invested at this stage demonstrated they had faith in this potential and faith in the BOD. I for one was pleased that AST were not standing still but continuing to explore other options. This helps them become less reliant on Slovenia in the longer term. If you invested in a Company thinking they would run it with only your interests taking into consideration then you really shouldn't be investing your hard earned cash. The CEO is entitled to his remuneration as agreed with his BOD. Let me make it simple for you.If you bought a new house on a development and you heard rumours of subsidence in the development would you fuel the rumour? Result - no-one wants to buy your new house or if they do they want to pay less for it. It's not rocket science - if you have invested you protect your investment and don't feed the slating. Your money - do what you like with it but don't go out of your way to turn fiction into fact.